Download Essential ingredients for a successful startup Jan. 2016

Essential ingredients
for a successful
startup
Jan. 2016
Eitan Kyiet
COO, PolyPid
Key Ingredients? .... Key words!
This is what the VCs say:
This is what the VCs say:
What’s a good startup?
Entrepreneur’s view
•
I want to build a successful business
•
My tools: Cool technology and Innovation!
•
I have an awesome product – look at these
great features!
So –
•
Why don’t they all get it?
•
I need to create a prototype/POC as quickly as
possible
•
I need enough money to make the dream a
reality…..but -
•
I don’t want to lose control
What’s a good startup?
Investor’s view
Risk: people, funding, market
•
•
How long will my investment be tied up for
•
Products? sell me benefits not features
•
Show me competitive barriers
•
What’s the business model? “is he realistic?”
•
Can he get me there?
 Track record
 Do I get a “warm and fuzzy feeling”
 Can he create a successful team?
•
Don’t tell: show
So many different views - what is the
truth?
So many different views - what is the
truth?
Some bedtime stories:
1. My personal Story
2. The PolyPid Story
3. The Friendly Angels Club Story
My Personal Story
1997-2006
•
Legal Counsel, Elbit Ltd.
•
Legal counsel, Ofer Bros. group
•
Partner, Amit, Pollak, Matalon & Co.
Law Firm
My Personal Story
Money isn’t everything
I want to make decisions!
I LOVE biotech and want the industry
to grow in Israel
I want to hold others to their promise
and be accountable for my deliverables
My Personal Story
2006- current
•
Follow your heart – its worth it!
•
Lumenis - turnaround
•
•
Biosense Webster – growth in a
corporate America environment
Honesty and integrity in a tough
environment
•
Learning on the job. All the time.
•
Culture shock on a daily basis
•
Creating partnerships
•
Give credit to others!
•
Celebrating diversity
•
•
PolyPid - nurture from childhood to
IPO(?)
Friendly Angels Club
• A lot
of hard work!
The PolyPid story
Revolutionizing post-surgical
specialty medication with sustained,
local release
PolyPid snapshot
Established: 2008
Employees: 35
PLEX™ Technology: Local drug delivery
matrix enabling highly effective and safe
treatment for a period of up to several
months
Production: Scale up GMP capabilities
(CMO in Europe & Israel)
Pipeline: Focused on the development and
commercialization of multiple solutions for
the prevention and treatment of infections
Patents: 13 granted patents & Over 50
pending applications worldwide
providing multiple layers of protection
to 2029 and beyond
Stage: Validated clinical proof of concept;
Entering Phase III; First read out expected
during 2016
13
PLEX™ sets new standards - effective release
over months
Available common local delivery
platforms
PLEX™
• High & potentially toxic initial burst
• Predetermined, controlled release
time span, up to months
• Non-linear & limited controlled
release
Concentration
• Often too short duration
• Constant, linear, controlled rate
(zero-order kinetics)
Toxi
c
zone
Therapeutic
window
Hours up to days
Weeks up to months
14
PLEX™ platform - optimized therapeutics for local
delivery
Additional critical factors


Implanting a drug reservoir directly into
the site
Anchoring the drug reservoir over the
needed duration
Key locations/organs/damaged
areas
Wounds, surgery, bones, brain,
pancreas etc. cannot be well
targeted via systemic circulation
Location
The right place
Duration
The needed
duration
Optimized
Therapeutics
Concentrati
on
Effective & safe
concentration
15
Core platform technology
1
2
3
4
5
6
On a molecular level, polymers and lipid self-assembled into
thousands of alternating layers that encapsulate the drug. Drug
captured between the layers released over time by the gradual
degradation of the layers
16
PLEX™ platform - breadth of drug applications
PLEX fits any size or physical characteristics
Small molecules
Peptides
Antibiotics1,
NSAID3, Antifungal3, Steroids2,
Analgesics3, Anticancer2
Several tested;
including anti
microbial2
Proteins &
Antibodies
Nucleic acids
based drugs
Antibodies2 &
Growth factors2
Plasmid DNA3 &
siRNA3
• Over 20 different drug types validated: encapsulation and controlled release
• Pre-clinical studies - several different animal models:
◦ Bone growth and recovery – proteins, growth factors (BMP2)
◦ Anti-infection - small molecules and peptides, bacterial contaminated bones, including resistant bacteria
◦ Anti-inflammation – steroids
◦ Anti-cancer – small molecule
1clinical
stage | 2in-vivo POC | 3in-vitro POC
17
PLEX™ platform – Dual business
development strategy
Collaborations with Pharma
PLEX Portfolio
Small molecules
Antibiotics,
Analgesics,
Steroids, Anticancer
Proteins & Antibodies
Antibodies, Growth
factors
Peptides
18
The PolyPid story – questions to deal
with on a daily basis:
•
Focus? Market




•
Dental?
Trauma?
SSI?
Big pharma?
Focus? Regulatory and Clinical
 Device?
 Pharma?
•
DIY or partnership?
•
Internal growth/outsourcing?
•
All guns blazing/conserve your
energy?
The key to your success
•
Know what you don’t know
•
Seek advice
•
Leave your ego at home
•
Be decisive
•
Failure is a good thing – if we learn
from it
SO….share your exciting story!
Thank you